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600,000 jobs could go in 2009

A number of experts have predicted that as many as 600,000 people could lose their jobs in the UK in 2009 as the recession continues unabated. With suggestions that over 300,000 of these jobs could be lost in the first three months of 2009 it looks as though the next 12 months will be challenging to say the least.

Not only will this reduce spending power across the UK and impact on the economy but it will also push more people into financial hardship and increase the pressure on the benefits system in the UK. The benefits system is currently at breaking point and despite a number of initiatives to reduce those claiming various payments in the UK we have seen very little reduction in cost. If this increase actually materialises this would push the UK budget into further deficit and place a number of public services at risk.

The government had recently stepped forward with plans to increase public service investment and create up to 100,000 jobs in the short to medium term but this looks more and more of a forlorn hope as cost savings need to be made in the short to medium term.

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